Today, there are numerous alternatives to obtaining energy exclusively from the power grid. For example, many commercial and residential premises are utilizing alternative energy sources such as wind, solar or other energy sources to generate electricity. However, many of these alternative energy sources are unreliable, inconsistent and/or intermittent. For example, the sun and the wind may vary from one day to the next, making it difficult to rely exclusively on any one or more of these alternative energy sources. To assist, commercial and residential premises are increasingly installing energy storage systems (e.g., batteries). Batteries are able to store energy, making it available as and when necessary. For example, solar energy received during the day can be stored in energy storage systems and utilized later at night; wind energy can be stored during windy times and consumed in later less windy times; and so on.
In general, energy storage may have a multiplicity of uses. For example, energy storage systems may be utilized for energy arbitrage—the process of storing energy at times when it has low market value and selling or otherwise consuming it at times of higher value. Energy storage devices may also be useful for voltage or frequency correction on the grid. For example, the energy storage system may either rapidly discharge or charge if it detects a change in frequency that might arise due to a sudden loss of renewable generation or the loss of a load or a voltage change. Energy storage devices may also be used to deliver power and energy services directly to energy and ancillary services markets through, for example, contractual arrangements.
However, despite the potential customer- and/or network-related benefits, none of the many uses for energy storage on their own are likely to render them sufficiently economically attractive to merit installation.
Accordingly, it is desirable to have systems, methods, and devices for managing energy storage systems, which are capable of utilizing the multiplicity of capabilities of the energy storage systems to improve the electrical and economic benefits of energy storage.